Verizon profit falls, eyes 8,000 job cuts

Verizon posted a lower quarterly profit and said it would cut 8,000 jobs in its wireline business, as weakness in wholesale and corporate segments overshadowed wireless growth. On Friday, Verizon Wireless said it added 1.1 million mobile subscribers in the quarter. Verizon's second-quarter profit fell to $3.16 billion, or 52 cents per share, from $3.4 billion, or 66 cents a share, in the same quarter a year earlier.